Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Strategy Briefing

Consumer Lifestyles in Eastern Europe

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About This Report

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The declining population in Eastern Europe and its rapid ageing is expected to have a significant impact on future demand for a wide range of modern goods and services in the coming years. Disposable incomes are expected to rise between 2017 and 2030, but at a relatively slow rate compared to other regions. As the population ages, spending on healthcare and medical products and services is expected to rise, putting pressure on household budgets.

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Consumer demand for higher quality products to rise, in line with increased disposable incomes

Disposable income in the region is projected to rise by 34% in real terms between 2017 and 2030, with stronger growth in the shorter term and a slow down towards the end of the period. Consumers in Eastern Europe are increasingly interested in higher quality products, including food, as well as looking after their wellbeing, which will lead to greater spending in these areas.

The population continues to decline as a result of low birth rates and young people emigrating

The population is projected to decline by 10 million over 2017-2030, as the birth rate is expected to decline further, to 8.9 per 1,000 population. Also, many young people have left the region in search of job opportunities with the “middle youth” segment predicted to decline by 12.6 million over the same period. This will impact demand for consumer products aimed at this demographic.

A growing number of older consumers to spur demand for age-related products

The rising number of older people in Eastern Europe is the dominant demographic trend, with the number of those aged 65+ years projected to surpass those aged 0-14 for the first time in 2020. Products aimed at older consumers will perform strongly, particularly when it comes to health-related products and services. Pensioners in Eastern Europe tend to live on small pensions, so they are price sensitive and rely in part on their wider family for support.

Median age in Eastern Europe set to overtake median age in Western Europe for the first time

The rapid ageing of the population and the large number of young people leaving for other more economically vibrant countries outside of the Eastern Europe region will drive up the median age by 3.9 years between 2017 and 2030, to reach 44.0 years, surpassing Western Europe for the first time. A more mature population will be seeking to secure their future through investment in their homes and savings.